CommScope Holding Co Inc has sold its core networking business to Amphenol Corp for $10.5 billion, sending CommScope’s stock soaring 91% and marking a significant shift in the tech industry.

Amphenol Corp is set to acquire CommScope’s broadband connectivity unit, CCS, for $10.5 billion in a deal that marks Amphenol’s largest acquisition to date.

CommScope Holding Co Inc faces challenges in its market position and financial performance, raising questions about its ability to adapt and innovate in a rapidly evolving industry.

CommScope Holding Co Inc has seen a surge in investor confidence due to strategic innovations and financial endorsements, positioning the company for significant growth in the tech sector.